When we decided to locate our global business services firm in Indianapolis, we had a hint of the possibilities for growth. Now, we are finding out the realities.
In the last 4 months, our firm has taken on several projects that have expanded our geographic and industry portfolio. From global supply chain management to medical device to wine distribution, we have had the opportunity to help our clients develop and refine their business models and execution of those models.
For our team, we have had to evolve our models to become more aligned with the needs of our clients. Many times you may hear the advice to evolve you model according to demographic trends or economic trends. This is not bad advice.
In fragile and prosperous times, I would place a vote for evolving your model to be in tune with those organizations that keep your business in business...your clients. Without clients (read: paying clients), you don't have a business. You have an idea.
How has your business evolved in the last 6 months?
Be+Do+Solve(TM)
During the last four days, we have been working on four new private equity projects. Yes, deals are still being done. These projects range from $7 to $100 million. The industries represented by these projects are information technology, commodities, life science and hospitality.
The point I am trying to make is that despite the gloom and doom in the news, many companies are still moving forward and growing revenue. From emerging markets to a virtual business, we are assisting our clients through the private equity process. Even in the hospitality sector where the demographic trends suggest many negatives, our clients are selecting opportunities to position themselves to benefit down the road.
By understanding that private equity has not gone away, many small and middle market firms have an opportunity to capitalize on the crisis. Our strategic partner, David Castor, spells out some of the nuances in his blog series on private equity.
We enjoy working with our clients on these types of projects. Not only does the revenue increase but jobs are retained. That is really exciting.
Is your company looking for opportunities for growth? Contact us to learn more about finding your equation for growth.
Be+Do+Solve(TM)
Typically, I use this business blogging forum to discuss corporate and NGO related topics.
I wanted to take a moment to discuss something going right with the U.S. government. With all of the conversation surrounding lost jobs, one governmental agency is doing its part to help. That agency is the
FBI.
In two articles this week (
CNNMoney.com and
Reuters.com), I read about the FBI hiring in excess of 2100 new employees. The hiring initiative includes field agents and professional staff. Both articles state this hiring initiative represents one of the largest in the history of the FBI.
As economic issues, online communities and global demographic trends continue to change, organizations similar to the FBI will be in need on more personnel. Just as the phoenix rises from the ashes, turmoil and crisis can create opportunity.
If you were downsized, have you checked out the FBI as an option? If so, what has been your experience thus far?
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In a recent article in
The McKinsey Quarterly titled
The ergonomics of innovation, one statement was relevant to many of my clients working to "change the game" in their industry.
“IHI constantly found ways of making it easier rather than harder for hospitals to innovate.”
IHI is the Institute for Healthcare Improvement.
The key lessons from this article were interesting in a time of companies trying to "one-up" each other to have the next best thing. Of the six mentioned, the one that resonates with how we run our business was developing tools that ease the burden on people attempting to promote innovation and change. We work internally and externally to create business solutions that are simple to implement. In most cases people are will to change, you jsut need to give them the tool that fits their skills. You wouldn't give a blowtorch to a carpenter would you?
My friend and advisor,
David Castor and his partner
Michael Alerding at
Aldering Castor LP are accomplishing innovation in the legal industry. If they can innovate, then you can in other industries.
The demographic trends are creating a more overburdened workforce. What is holding you back from keeping it simple and creating innovation?
Be+Do+Solve(TM)
-Ms. Michelle Rhee, Chancellor of DC Public Schools
This comment by
Ms. Michelle Rhee, Chancellor of DC Public Schools represents the philosophy that all administrators and staff should have in the K-12 education system. With the demographic trends continuing to show a widening gap between in the education landscape, I think it's about time that adults stop being the lead weight holding back our students.
One big issue is the position taken by teacher unions to maintain something close to status quo. Maybe they should take a look at the issues faced by unions in the business community. Major corporations are not including unionized areas in their strategic implementation plans. In a more basic example, the unions of the U.S. automakers have forced the creation of alternative business solutions to make up for financial issues.
I thought we learned a long time ago that, "The definition of insanity is doing the same thing over and over and expecting different results."
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A global market requires terms that are more representative of its realities. A description based on geography is like comparing apples to oranges. Whether your organization is located in London, South Africa or Dubai, the landscape of your industry should be described by how you interact with complimentary and competitive organizations.
In the New York Times yesterday, the article titled,
"Cost-Cutting in New York, but a Boom in India", mentions the terms "knowledge process outsourcing" and "off-shoring". While these are standard terms, do they actually describe the nature of the relationship and the interaction. Why not keep it simple and say our "research department" or "customer service department". Global organizations already operate under a virtual business model. If you have more than one location, you are operating virtually in some form. As a result, I think there is not a need to add the geographic description.
As demographic trends continue to evolve, business solutions from diverse global locations will increase. Have you explored global partnerships? If not, why haven't you?
Be+Do+Solve (TM)
A fuzzy business model can find clarity with a good focus group.
If you are an established business or a group working on strategic planning and business formation, focus groups can be a key part of your success.
Last week, I participated in a focus group for a client. Additionally, this particular client is a NGO completing the strategic implementation of a multi-phase marketing effort.
During the session, I had the opportunity to be an observer. By participating, you are able to hear the questions you should be asking in internal meetings. Data on demographic trends is great but listening to a person face-to-face is better.
I have shared these thoguhts with clients in the past, but thought I would share them with those of you whom I have not had the opportunity to meet.
Are you asking the right questions?
Be+Do+Solve (TM)
Last week, I had the opportunity to participate in a course at The Fund Raising School course in Indianapolis, Indiana held by The Center on Philanthropy at Indiana University. You might ask...what does philanthropy have to do with business? In our fast-paced global economy, the two become more intertwined every day. The lessons learned in the for-profit world are making their way to the non-profit world and vice versa.
For instance, the participants of the course were a social entrepreneur in one form or another each with multiple goals for their organizations. In order for social entrepreneurs to achieve their goals, they must understand the demographic trends and leverage business and personal networks to create business solutions and mission-based solutions. Sound familiar? This is the same model applied in the for-profit world. Additionally, as a social entrepreneur you are utilizing some form of a virtual business model. Two of my colleagues in the course were from The Dubai School of Government. This is a not-for-profit public policy institution that heavily leverages a virtual business model including a partnership with the Harvard University John F. Kennedy School of Government. Talk about a international business solution model. Before the end of the course, I was able to connect with my colleagues from Dubai and a colleague who lives between Chicago and London but is a native of Nigeria. Our group represents a potential global virtual business in the future.
Next time you are involved with philanthropic organization, you might want to pay close attention to the operations of the organization. You may find a useful "best practice" for your business. Who knew the for-profit entrepreneur world could learn from the social entrepreneur by way of Dubai? If you did, you and your organization are ahead of the curve.
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